“We are extremely proud of Anderson and the show that he and the entire production team have produced,” says Warner Bros’ Telepictures studio in a statement. “While we made significant changes to the format, set and produced it live in its second season, the series will not be coming back for a third season in a marketplace that has become increasingly difficult to break through.”

Don’t worry — you don’t have to adjust your daily routine quite yet. Cooper will finish up the current season of “Live,” which isn’t set to end until the summer of 2013. He will, of course, continue on with “360,” which remains the most-watched evening show on CNN.

On Monday, Cooper was focused on his coverage of Hurricane Sandy, so his statement regarding the cancellation is brief. He simply writes, “I am very proud of the work that our terrific staff has put into launching and sustaining our show for two seasons.”